Hoffmann Commercial Real Estate buys two more buildings as Third Street expansion continues
November 20, 2017
Hoffmann Commercial Real Estate’s expansion in downtown Naples continues with the purchase of two new buildings, the company announced.
The St. Louis-based real estate holding company, a division of Osprey Capital, purchased Pettit Square at 292-296 14th Ave. S. and 271 Broad Ave. The group now owns 21 properties valued in excess of $250 million. Most of the property is centered in the south Naples retail area.
The real estate company also has placed four addresses under contract with plans to close by the end of January. They include the Bevy restaurant at 360 12th Ave. S., 990 First Ave. N., 950 First Ave. N. and 80-90 First Ave. N.
“The addition of these properties is the evolution of our major commitment to Naples,” Greg Hoffmann, CEO of Hoffmann Commercial Real Estate, said in a news release. “These are outstanding properties that complement our existing holdings. We look forward to the opportunity to re-vitalize Third Street South, and link it with our holdings near Fifth Avenue South to position Old Naples as a leading shopping and dining destination.”